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b2 L" ^0 u8 HBelow is an Interesting article I found, which says that.....Do not
" e' {0 B3 z, o3 bexpect much from Crude Oil producers and future is not with the
( B7 m7 U3 @$ g2 V$ ycompanies producing Jet fuels but Biofuels. Also no wonder if some of * h4 @+ V9 d" [. a9 b
these oil producer will go bankrupt or out of the business even if + W2 e, i+ i8 H
crude prices improves. This implies also to good names such as Shell,
6 b0 Z6 O8 F4 UEXXON, BG, BP, Cheveron ....xyz.. oils 8 n& l$ v, X0 a4 l1 ?- A6 s- H
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Recently OPEC reduced crude oil production twice over just a few
# b1 j% H Z* m4 u- y( Lmonths. There are three wars going on in Gaza, Iraq and Afghandistan. + J: r. q( H6 ]7 v8 q
A year ago these things would have spiked the price of crude oil by at
1 g: I; v$ u0 x' x2 Y2 h9 vleast $50.00 per barrel. Today, oil price declined by a record amount.
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! w# C( x( t& R' |6 KThere are several reasons the price of oil is decreasing in the face . q4 |+ O- B, B" ]% v& u
of so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and
' Q y' i7 w. ^# P; T' X3 Din the ocean near Brazil. Each of these oil fields has more oil than 6 P" J- c. f% \" D' ?
Arabia.
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4 @ n* s7 V# K2. New natural gas has been found in Pennsylvania and West Virginia.
2 A5 U3 [1 x) B3 ?) Z" K% sThis is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is ; K( g9 P! e6 y& F3 n3 A1 `$ o
being used to double their output. , o5 a+ q# K! z" S1 `& b
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4. Production of bio-fuels is beginning to reach critical mass. Bio
0 u& [+ W$ k E) o9 dfuel is being produced from many plants and algae. The production
" J/ Z# E1 Q$ y8 ]) ]; i$ [potential per acre in some cases is astounding. Many countries are $ c7 B) d7 U, P# v1 A+ J
racing to produce bio fuels.
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I/ ?$ c7 U$ \$ K& j0 w( U3 c5. Virtually every restaurant in the US and all food processing plants 6 {6 J8 D% E- B9 V* a. s. q
are now selling their used oil to bio-diesel producers. Every pork, ; T0 B6 s; m( H0 M0 b( R
cattle, turkey and chicken processing plant will soon sell their fat
p4 E1 W' T2 Z. @; U% Dto bio-diesel producers. One pork processing plant in Oklahoma is
2 P) h. x' T3 u/ J `/ x0 ?7 Lproducing 30,000 gallons of bio-diesel per day from pork fat. ; e' I0 x! Z5 |/ U
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' ^7 V- z/ w, A2 Y! D6. There are 99 nuclear reactors in various stages of planning and
; s& [# }8 M4 _% g2 l% V$ O) [4 kconstruction around the world at this time. Several hundred more are
`1 B& a/ q0 n c/ V1 X6 M& m- Sexpected to be built in the future. Much of the energy they produce
9 U* l% A8 ]+ O5 H8 l2 c: f! Q; Kwill replace oil.
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1 m" C) ?, j: a: R4 b; \. U7. Every company in any form of transportaion business is replacing
# j4 r2 _; P/ p% P8 N: golder equipment such as trucks, airplanes, train engines, ships, etc.
9 r0 }5 q& |* V4 rwith new more fuel efficient equipment. Airlines and railway companies
$ e# ], i) {9 c$ {are experiencing 20% to 25% better fuel econony with the new ! z# a: H) H$ {" \1 b
equipment. 3 V, Z8 V( A- {) U; [( S
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Airlines are flying airplanes with bio-fuel. They are finding the bio- 7 U/ c& J1 C5 o% j% C0 n2 P E, O- m
fuel is cleaner and performs better than jet fuel. 8 I1 K9 H5 j5 L: Z
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8. Cities and counties throughout the US are selling the rights to 1 o/ P+ @5 C% `$ n5 z, ~& v
capture methane gas from landfills. This is a huge source of gas 1 ~# z' p( b: {7 _2 @" O
available at very little cost or risk. The gas is displacing crude ' p" c. x# W" T0 h% W6 d% R
oil.
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4 q9 M' B6 U: m+ o) z- u/ p3 i9. Coal is being transformed into a clean burning liquid fuel. The CO2
- k* [+ `5 {; Eproduced as a byproduct is sold to oil companies for injection into
) p4 [/ t) Y5 `& Hoil wells.
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3 p# G, J7 ^! P: O% Y10. Solar, wind and ocean energy is displacing oil as an energy 5 s3 e1 @$ t; u# `; K0 x+ j
source. Three new wind turbines are being erected every day in the US. ) h3 Z) v/ o" u, H
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Each of the above by itself will not make a large difference in the
3 Q4 Q+ Z1 I5 H5 N J" f9 l+ oprice of crude oil but the sum of all of them together is world
4 {; h3 r, V7 Nchanging. The important thing is that OPEC no longer has the ability
) T$ t+ K* W) Y8 Pto control oil prices. ) C) M9 ^# y8 J3 ~9 w' z& P9 w
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, M; z& J+ q9 L# ?% qWith the above scenario, I still believe that there are under
+ K4 v1 T/ K. s( O% G4 aperformed OIL companies and probably they are yet to get the justified 5 Q S: `0 u3 w, p$ J" i8 C
value ..... ! p9 {1 u- K i9 G; n# e
IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 9 \! f" v+ n B: E5 h2 H- a% ?4 K9 i
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN 1 ~( S6 Y6 Z" v0 ^: h7 S
2009 ... FYI-Only |
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